note_28_trans_med_naerstaende-EN

Document Sample
note_28_trans_med_naerstaende-EN Powered By Docstoc
					Note 28 Related party transactions

As of 31 December 2012 the City of Oslo owned 53.7 per cent of the shares in Hafslund ASA. At
the same date, Hafslund ASA held a 43.3 shareholding in Infratek ASA. Hafslund buys and sells
goods and services with its related parties the City of Oslo and the Infratek Group. All
transactions between the parties are carried out on market terms. Receivables from related
parties primarily arise from the sale of goods and services. Trade payables from related parties
mainly arise from the purchase of goods and services.



NOK million                                    City of Oslo                     Infratek
Profit and loss                                 2012           2011            2012             2011
Sale of goods and services                      158            254               6               29
Acquisition of goods and services               171            119             311              365

Balance:                                  2012-12-31      2011-12-31     2012-12-31        2011-12-31
Receivables                                      26              41                                4
Trade payables                                   28              19             54                80

Borrowings
Hafslund has two bond loans of NOK 500 million and NOK 740 million with Oslo Pensjonsforsikring
AS established in 2007 and 2008 respectively. The loans have ten-year terms. Both loans were
taken out on market terms and conditions are listed on the stock market. Norsk Tillitsmann is a
counterparty to the agreement. Oslo Pensjonsforsikring AS is a life insurance company that is
wholly owned by the City of Oslo. The loans are included in "Non-current loans, fixed-interest-rate
bonds", see Note 17.




Loans to related companies                    2012            2011
Book value as of 1 January                       3              123
Loans extended                                                     3
Loans written down                                             (12)
Loans repaid                                     (3 )         (121)
Interest income                                                  16
Interest received                                                (6)

Book value as of 31 December                       0              3


Hafslund has previously extended loans to companies included in the Group´s previous venture
portfolio. As of 31 December 2012, all such loans are paid.

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:0
posted:6/7/2014
language:English
pages:1